Business owners who register their organisations with the
Corporate Affairs Commission (CAC) would no longer need to approach the Federal
Inland Revenue Service (FIRS) for a tax identification number.
In a statement on Monday, CAC said the processes of
registering a business and getting a tax ID have been merged.
This means that certificates of incorporation issued by the
CAC would now carry TINs.
“This is to inform our esteemed customers that as part of
the ease of doing business initiative, certificates of incorporation of
companies registered under part A of CAMA will henceforth carry tax
identification numbers issued by the Federal Inland Revenue Service (FIRS),”
the corporation said.
“This has dispensed with the need for companies to apply for
the issuance of tax identification numbers from FIRS after incorporation.”
The Muhammadu Buhari-led administration has been making
efforts to improve Nigeria’s ease of doing business and set up the presidential
enabling business environment council (PEBEC) to remove bottlenecks in the
business environment and attract investments.
At present, the National Agency for Food and Drug
Administration and Control (NAFDAC) is offering micro, small and medium scale
enterprises a discount to get their products registered.
The 80 percent discount, which began in May, will last for
six months.
Between October 2018 and March 2019, MSMEs were offered a
N5,000 flat rate to register business names with the Corporate Affairs
Commission (CAC).
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